Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX – Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 161,928 shares, a decline of 41.8% from the April 30th total of 278,434 shares. Based on an average trading volume of 345,562 shares, the days-to-cover ratio is presently 0.5 days. Currently, 5.6% of the shares of the company are sold short.
Direxion Daily Energy Bull 2x Shares Stock Performance
Shares of ERX traded up $0.65 during midday trading on Thursday, hitting $93.39. 249,392 shares of the stock traded hands, compared to its average volume of 481,756. Direxion Daily Energy Bull 2x Shares has a 1-year low of $47.50 and a 1-year high of $110.78. The firm has a market capitalization of $271.76 million, a PE ratio of 14.85 and a beta of 0.80. The business’s 50 day moving average price is $92.48 and its two-hundred day moving average price is $77.43.
Hedge Funds Weigh In On Direxion Daily Energy Bull 2x Shares
Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 17.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $85,000 after acquiring an additional 250 shares during the period. Bank of America Corp DE acquired a new position in shares of Direxion Daily Energy Bull 2x Shares during the second quarter valued at $116,000. Qube Research & Technologies Ltd boosted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 679.8% during the third quarter. Qube Research & Technologies Ltd now owns 3,158 shares of the company’s stock valued at $178,000 after acquiring an additional 2,753 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Direxion Daily Energy Bull 2x Shares during the fourth quarter valued at $215,000. Finally, HRT Financial LP acquired a new position in shares of Direxion Daily Energy Bull 2x Shares during the fourth quarter valued at $351,000.
Direxion Daily Energy Bull 2x Shares Company Profile
The Direxion Daily Energy Bull 2X Shares (ERX) is an exchange-traded fund that is based on the Energy Select Sector index. The fund provides 2x leveraged exposure to a market-cap-weighted index of US large-cap companies in the energy industry. ERX was launched on Nov 6, 2008 and is managed by Direxion.
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